La. Couple Deny $1M Katrina Recovery Fraud

Law360, New York (April 28, 2011, 7:05 PM EDT) -- A Louisiana couple pled not guilty in Mississippi federal court on Wednesday to charges that they bought a yacht with some of the $1 million in U.S. Small Business Administration loans they received to repair damage from Hurricane Katrina.

Victor and Eileen Planetta, owners of Planetta Custom Homes, entered not guilty pleas before a magistrate judge a week after being indicted on counts of conspiracy and fraud, according to court records.

The couple were arrested Tuesday in Slidell, La., and released Wednesday on bond, according to...
To view the full article, register now.